Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider John Militello Sells 833 Shares

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 833 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $22.87, for a total transaction of $19,050.71. Following the completion of the transaction, the insider now directly owns 54,406 shares in the company, valued at approximately $1,244,265.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

John Militello also recently made the following trade(s):

• On Thursday, March 21st, John Militello sold 2,490 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $28.10, for a total value of $69,969.00.
• On Thursday, February 29th, John Militello sold 10,000 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $29.84, for a total value of $298,400.00.

Rocket Pharmaceuticals Trading Down 0.2 %

NASDAQ RCKT opened at $23.63 on Thursday. Rocket Pharmaceuticals, Inc. has a 1-year low of $14.89 and a 1-year high of $32.53. The stock has a 50-day moving average of $26.97 and a 200-day moving average of $25.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.80 and a quick ratio of 7.80.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Monday, February 26th. The biotechnology company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.14. During the same period in the previous year, the firm earned ($0.92) earnings per share. Research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RCKT. Needham & Company LLC reissued a “buy” rating and set a $53.00 price objective on shares of Rocket Pharmaceuticals in a report on Wednesday, April 10th. StockNews.com raised shares of Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. The Goldman Sachs Group initiated coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. Finally, UBS Group dropped their price target on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.13.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCKT. Hennion & Walsh Asset Management Inc. raised its stake in shares of Rocket Pharmaceuticals by 19.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 231,287 shares of the biotechnology company’s stock valued at $6,231,000 after acquiring an additional 37,937 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in Rocket Pharmaceuticals by 115.3% during the 1st quarter. Harbour Capital Advisors LLC now owns 21,155 shares of the biotechnology company’s stock valued at $544,000 after purchasing an additional 11,330 shares during the period. Vanguard Group Inc. raised its position in Rocket Pharmaceuticals by 18.3% during the 4th quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock valued at $163,264,000 after purchasing an additional 843,552 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Rocket Pharmaceuticals by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company’s stock worth $245,680,000 after buying an additional 174,716 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Rocket Pharmaceuticals by 12.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock worth $17,822,000 after buying an additional 64,946 shares during the period. 98.39% of the stock is currently owned by institutional investors.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.